[141 Pages Report] on Glass Mat Market is estimated to grow from USD 931.5 Million in 2016 to USD 1,238.5 Million by 2022, at a CAGR of 4.83% between 2017 and 2022. The base year considered for the study is 2016 and the market size is projected between 2017 and 2022. The increase in use of glass mat in construction & infrastructural and automotive applications is driving the market.

Objectives of the Study:

The report analyzes the global glass mat market, in terms of volume (kiloton) and value (USD million). The report also estimates the size and growth potential of the glass mat market across different segments, such as mat type, binder type, end-use industry, and region. It forecasts the market size for five regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. The study also covers market opportunities and competitive landscape for stakeholders and market leaders.

The research methodology used to estimate and forecast the glass mat market begins with gathering data on key company revenues and raw material costs through secondary sources such as Factiva, Hoovers, Manta, and others. The product offerings are also taken into consideration to determine the market segmentation. The bottom-up approach has been used to arrive at the overall size of the glass mat market from the revenue of key players. After arriving at the total market size, the overall market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with CEOs, VPs, directors, and executives. Data triangulation and market breakdown procedures have been used to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary interviewees is shown in the figure below:

The study answers several questions for stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing the efforts and investments.

Scope of the Report

The research report segments the glass mat into the following submarkets:

By Mat Type:

Continuous Filament Mat

Chopped Strand Mat

By Binder Type:

Emulsion Bonded Glass Mat

Powder Bonded Glass Mat

By End-Use Industry:

Construction & Infrastructure

Automotive

Industrial & Chemical

Marine

Sports & Leisure

Others

Wind Energy

Electrical & Electronics

Consumer Goods

By Region:

North America

Europe

Asia Pacific

Middle East & Africa

Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of product portfolio of each company

Regional Analysis

Further breakdown of the North American glass mat market

Further breakdown of the European glass mat market

Further breakdown of the Asia Pacific glass mat market

Further breakdown of the Middle East & Africa glass mat market

Further breakdown of the Latin American glass mat market

Company information

Detailed analysis and profiling of additional market players

The glass mat market is projected to grow from USD 931.5 Million in 2016 to USD 1,238.5 Million by 2022, at a CAGR of 4.83% during the forecast period. The market is growing due to the high demand from construction & infrastructure industry and other emerging application industries such as industrial & chemical and automotive; as glass mat can reduce weight and give better aesthetic than metal parts. The market witnessed a strong growth in the past few years considering the use of composites in the US, Germany, and developing countries such as China, Brazil, and Japan.

The glass mat market is segmented based on mat type into compression chopped strand mat and continuous filament mat. Chopped strand mat is expected to the fastest-growing mat type segment. It was also the largest segment for glass mat in 2016, in terms of value, as it is the most preferred mat type to manufacture composites. Chopped strand mat is widely applicable in recreational, marine, transportation, industrial, and construction applications, among others.

The glass mat market is segmented by end-use industry into construction & infrastructure, industrial & chemical, marine, sports & leisure, and others. The construction & infrastructure segment accounts for the highest market share, owing to innovations in the integration of lightweight GFRP composites, which provide strong, corrosion resistance, and better aesthetic properties. This is expected to further increase the demand for glass mat from construction & infrastructure component manufacturers.

Currently, Asia Pacific is the largest consumer of glass mat. India and China are also the major markets due to the growing construction & infrastructure and industrial & chemical industries in both countries.

Owing to automation and shift from open mold applications to close mold applications in developing countries, the demand for glass mats has shifted towards other products, such as glass fabric and glass roving for better results. This is acting as a restraint to the growth of the glass mat market.

Owens Corning (US), Jushi Group Co. Ltd. (China), CPIC (China), and Binani Industries Limited (India) are some of the leading players in the glass mat market. Owens Corning has been able to hold a leading position in the market by tapping various global markets. It has undertaken strategic alliances with local distribution centers of emerging markets to increase its market share and customer base. As a part of the company growth strategy in the glass mat market, it is mainly focused on investments & expansions as well as new product launches.

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